Saudi Arabian Contractor MGC Explores Riyadh Listing

Saudi Arabia’s Mutlaq AlGhowairi Contracting Co. is weighing an initial public offering in Riyadh, according to people familiar with the matter, which could add to a wave of listings in the kingdom that’ve raised over $10 billion in the last two years.

The firm, known as MGC, is exploring a deal that could value it in the range of about 12 billion riyals ($3.2 billion) and 15 billion riyals, according to the people, who declined to be identified as the information is confidential.